India cbank to conduct repurchase of govt bonds for 50 bln rupees on March 24

MUMBAI, March 20 (Reuters) - The Reserve Bank of India will
conduct a repurchase of government bonds worth 50 billion rupees
($819.60 million) through a reverse auction on March 24, it said
on Thursday.

The central bank will repurchase bonds via reverse auction
to prematurely redeem the bonds by utilising the government's
surplus cash balances, it said.

"The above repurchase of the government stocks is purely ad
hoc in nature," the central bank said.